Standard Chartered reports USD 395 mn net income before tax in 2024 from its UAE operations

Standard Chartered's UAE market operations saw a 18.4% y-o-y decline in net income before tax to USD 71 mn in 4Q 2024, according to its financials (pdf). The lender’s operating income rose by 3.9% y-o-y to USD 189 mn.

On an annual basis, the lender’s net income before tax in the UAE fell 6.2% y-o-y to USD 395 mn in 2024. Its operating income climbed by 5.3% y-o-y to USD 836 mn last year. Meanwhile, the bank’s total assets in the UAE increased by 39% y-o-y to USD 28.3 bn by the end of 2024.